University FCU (UT) Adds 20 Basis Points To 60-Month CD


Availability: Salt Lake County, Utah

Earlier this week, University Federal Credit Union (University FCU) raised the rate on its 60-month Certificate (2.50% APY). The minimum opening deposit is $1k, with no stated balance cap.

In its more than 5-year history, the 60-month Certificate has had over 20 rates changes, with the current APY being the highest rate ever.

3.51%$500-University Federal Credit Union (UT)60 Month CD
3.51%$500-University Federal Credit Union (UT)60 Month IRA (Traditional, Roth, CESA)
Rates as of March 22, 2019.

The 60-month Certificate is also available as an IRA (Traditional), but at a slightly higher APY of 2.55% and a lower minimum deposit of $500.

As stated in University FCU’s Disclosures page, the Early Withdrawal Penalty reads as follows:

If there are withdrawals from a certificate prior to the maturity date, the account holder
shall forfeit one hundred and eighty (180) days dividend on certificate maturities of more
than 12 months (or such lesser amount as may hereafter be required by applicable laws
or regulations) on the amount withdrawn at the rate being paid in the account, regardless
of the length of time the funds withdrawn have remained in the account.

60-month One-Time Bump Certificate

University FCU also has a 60-month One-Time Bump Certificate (2.45% APY), which has been part of the product line for about ten months.

Bump option can be applied only once during the term. Bump option pertains to the
prevailing UFCU term deposit rate and will be in effect for the remainder of the term only.
3.40%$500-University Federal Credit Union (UT)60 Month One-Time Bump Certificate
Rates as of March 22, 2019.

DA guest-commentator, Charles Rechlin, wrote a comprehensive blog post that addresses the “who, what, where, when” of Step-Up CDs. If you’re wondering if the bump-up option is worth the 5 bps difference between the 60-month Certificate and the 60-month One-Time Bump Certificate, reading Charles’ post may be helpful.


Headquartered in Salt Lake City, University Federal Credit Union offers membership to individuals who live, work, worship, attend school, or volunteer in Salt Lake County, Utah.

In addition, immediate family members of current University FCU members qualify for membership. "Immediate family member" in this instance is defined as "spouse, child, sibling, parent, grandparent, or grandchild. This includes stepparents, stepchildren, stepsiblings, and adoptive relationships."

Joining University FCU and/or opening a CD can be done online, or in-person at any of 17 Utah branches located in Bountiful (2), Cottonwood Heights, Draper, Holladay, Riverton, Salt Lake City (7), Sandy, West Jordan (2), and West Valley City.

Credit Union Overview

University Federal Credit Union (NCUA Charter # 24710) has an overall health grade of "A+" at, with a Texas ratio of 2.64% (excellent) based on September 30, 2016 data. In the past year, University FCU has increased its total non-brokered deposits by $80.59 million, an excellent annual growth rate of 12.03%. Please refer to our financial overview of University Federal Credit Union for more details.

University Federal Credit Union was established in July 1956 by a small group of professors at the University of Utah. The original field of membership covered all University of Utah employees, but was later expanded to include the University’s alumni and students. In 2004, the charter was changed to a community charter. Today, University FCU is the fifth largest credit union in Utah, with more than 89,200 members and assets in excess of $853 million.

How the CD Compares

When compared to the 221 similar length of term CDs tracked by that available to residents of the Salt Lake City metro area, University Federal Credit Union's 60-month Certificate currently ranks second.

The above rates are accurate as of 1/20/2017.

To look for the best CD rates, both nationwide and in your state, please refer to our CD rates table, or our new Rates Map page.

University First CU (UT) Raises Rate On 60-month CD
Availability: Salt Lake County, Utah

University First Credit Union (University First CU) is offering a 60-month Certificate (2.30% APY). In its 5-year history, the 60-month Certificate has had over 20 rates changes, with the current APY being the highest rate during that time frame. The minimum opening deposit is $1k, with no balance cap.

The 60-month Certificate is also available as an IRA (Traditional), but at a slightly higher APY of 2.40% and a lower minimum deposit of $500.

60-month One-Time Bump Certificate

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